The owner of The Nobu Hotel in Shoreditch, EC2, has secured a £68.5m facility with pbb Deutsche Pfandbriefbank and LaSalle Investment Management to refinance the development loan on the asset.
Willow Corp Sarl has agreed a senior and mezzanine debt facility to replace the development loan that funded the building of the 148-bedroom hotel, which opened to guests in September 2017.
BBS Capital arranged the £68.5m loan which comprised a £48.5m senior debt facility with pbb Deutsche Pfandbriefbank and a £20m mezzanine debt facility with funds advised by LaSalle Investment Management.
Best known for its Japanese restaurants, Nobu Hospitality was selected to operate the property under a 15-year management agreement. Nobu is expanding the hotel side of its business internationally. The Shoreditch hotel at 10-50 Willow Street was developed by boutique London hotel developer Meir Abutbul.
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